Crypto & Web3
33 stories
BitConnect scam
BitConnect was a cryptocurrency lending and exchange platform launched in 2016 that operated as a massive Ponzi scheme, promising impossibly high returns through a purported 'trading bot'. It collapsed in January 2018 after regulatory warnings, leading to billions in investor losses. Legal actions and arrests against its promoters and founder have continued for years, with some restitution paid to victims and ongoing efforts to apprehend the main founder, Satish Kumbhani, who remains a fugitive as of early 2026.
FTX
FTX was a major cryptocurrency exchange founded by Sam Bankman-Fried that collapsed spectacularly in November 2022 amid allegations of fraud and mismanagement. The company filed for bankruptcy after it was revealed that billions in customer funds had been improperly transferred to Alameda Research, Bankman-Fried's trading firm.
Axie Infinity
Axie Infinity is a blockchain-based play-to-earn game developed by Sky Mavis, which gained immense popularity in 2021 for its NFT creatures and cryptocurrency rewards. After facing a devastating $600M+ hack on its Ronin Network in 2022 and a subsequent decline in player engagement and token value, the game has undergone significant economic and strategic overhauls in 2025 and 2026, including new tokenomics and the upcoming launch of a major MMO experience, Atia's Legacy, to revitalize its ecosystem.
Voyager Digital Ltd.
Voyager Digital was a cryptocurrency brokerage platform that collapsed in July 2022 amid the broader crypto market downturn. The company filed for bankruptcy after being unable to recover $650 million in loans to hedge fund Three Arrows Capital, leaving over 3.5 million customers unable to access their funds.
Sam Bankman-Fried
Sam Bankman-Fried, former CEO of cryptocurrency exchange FTX, was convicted on seven counts of fraud and conspiracy in November 2023 following the collapse of his crypto empire. He was sentenced to 25 years in prison in March 2024 for stealing billions of dollars from FTX customers to cover losses at his trading firm Alameda Research.
Three Arrows Capital (3AC)
Three Arrows Capital was a prominent Singapore-based cryptocurrency hedge fund that collapsed spectacularly in June 2022, triggering a massive contagion across the crypto industry. Founded by Kyle Davies and Su Zhu, the fund managed over $10 billion at its peak before filing for bankruptcy after failed bets on Terra Luna and overleveraged positions.
Luna Terra (LUNA/UST)
Luna Terra was a blockchain ecosystem featuring LUNA tokens and TerraUSD (UST) algorithmic stablecoin that collapsed spectacularly in May 2022. The ecosystem lost over 99% of its value in days, wiping out approximately $60 billion in market capitalization and triggering a broader crypto market crash.
Silk Road dark web
Silk Road was the pioneering darknet marketplace, operating from 2011 to 2013, which facilitated anonymous transactions of illicit goods using Bitcoin and the Tor network. Its founder, Ross Ulbricht (known as 'Dread Pirate Roberts'), was arrested and sentenced to life in prison, though he received a full presidential pardon in January 2025. The US government continues to manage and sell significant amounts of Bitcoin seized from the platform and related individuals, while the dark web market landscape has evolved and fragmented considerably since Silk Road's demise.
Celsius Network
Celsius Network was a cryptocurrency lending and borrowing platform that promised high yields to depositors. The company collapsed in June 2022 amid liquidity issues, freezing customer withdrawals and eventually filing for bankruptcy with a $1.2 billion hole in its balance sheet.
Bored Ape Yacht Club NFT
The Bored Ape Yacht Club (BAYC) NFT collection, launched in April 2021, rapidly ascended to become a cultural phenomenon, attracting celebrity owners and reaching a peak floor price of over 128 ETH in May 2022. However, it has since experienced a significant decline in value amidst a broader crypto winter and cooling NFT market. Its creator, Yuga Labs, has pivoted to focus heavily on its Otherside metaverse project, while also navigating ongoing legal challenges related to trademark infringement and class-action lawsuits concerning unregistered securities.
Axie Infinity Shards (AXS)
Axie Infinity Shards (AXS) is the governance token for Axie Infinity, a blockchain-based play-to-earn game. After experiencing a meteoric rise in 2021, AXS faced significant challenges, including a major security breach on its Ronin Network in 2022 and a subsequent decline in player engagement and token value. As of 2026, developer Sky Mavis is focused on ecosystem expansion, new game titles like Atia's Legacy, and refining its economic model amidst ongoing regulatory scrutiny.
Ethereum Blockchain
The Ethereum blockchain has evolved significantly since its inception, transitioning from a Proof-of-Work to a Proof-of-Stake consensus mechanism with 'The Merge' in 2022 to enhance sustainability. Subsequent upgrades like Dencun and Pectra have focused on scalability, reducing Layer 2 transaction costs, and improving user experience, leading to record transaction volumes by early 2026. The network continues its ambitious roadmap with planned upgrades like Glamsterdam and Hegota in 2026, alongside a renewed emphasis on decentralization, privacy, and quantum resistance.
Coinbase Global, Inc.
Coinbase, a leading American cryptocurrency exchange, has significantly expanded its offerings beyond traditional crypto trading, launching regulated Bitcoin and crypto futures in Europe and introducing 24/5 stock and ETF trading for U.S. users as part of its 'Everything Exchange' strategy. Despite facing a shareholder lawsuit in early 2026 and reporting a Q4 2025 net loss, the company achieved strong annual revenue growth in 2025 and saw its SEC lawsuit dismissed, navigating a complex regulatory landscape while pushing for broader digital asset adoption.
Mt. Gox
Mt. Gox was once the world's largest Bitcoin exchange, handling over 70% of all Bitcoin transactions at its peak. The company collapsed spectacularly in February 2014 after revealing that hackers had stolen 850,000 bitcoins over several years, leading to bankruptcy and ongoing legal proceedings.
Bitcoin Pizza Day
Bitcoin Pizza Day commemorates the first real-world transaction using Bitcoin, which occurred on May 22, 2010, when Laszlo Hanyecz exchanged 10,000 BTC for two pizzas. This event transformed Bitcoin from a theoretical digital asset into a functioning medium of exchange, and it is now celebrated annually as a symbol of cryptocurrency's breakthrough into everyday life and its remarkable growth in value.
Flow (cryptocurrency)
Flow is a Layer-1 blockchain developed by Dapper Labs, designed for scalable decentralized applications, particularly in NFTs, gaming, and consumer experiences. After a significant security exploit in December 2025 and subsequent delisting challenges in South Korea, Flow has resolved the technical issues, restored global exchange services, and is actively fighting for its presence in the Korean market while focusing on consumer DeFi and ecosystem expansion in 2026.
NFT Market
The NFT market experienced an explosive boom in 2021-2022 driven by speculative digital art and collectibles, followed by a significant crash in 2022-2023. As of early 2026, the market has matured, shifting away from pure speculation towards utility-driven applications, real-world asset (RWA) tokenization, gaming, and enterprise adoption, with regulatory frameworks beginning to provide clarity.
Do Kwon (Kwon Do-hyung)
Do Kwon is the South Korean founder of Terraform Labs who created the Terra Luna cryptocurrency ecosystem that collapsed spectacularly in May 2022, wiping out $60 billion in value. After months on the run from international law enforcement, he was arrested in Montenegro in March 2023 and faces extradition requests from both South Korea and the United States on fraud charges.
XRP (Cryptocurrency)
XRP is a digital asset designed for fast, low-cost global payments, operating on the XRP Ledger. It was created in 2012 by the founders of Ripple Labs, which uses XRP in its On-Demand Liquidity (ODL) service for cross-border transactions. After years of legal battles, the SEC lawsuit against Ripple Labs concluded in August 2025, providing regulatory clarity that XRP itself is not a security, though institutional sales were deemed unregistered securities offerings.
Solana blockchain
Solana is a high-performance public blockchain platform launched in March 2020, known for its rapid transaction speeds and low costs, achieved through a unique Proof-of-History (PoH) consensus mechanism alongside Proof-of-Stake (PoS). Despite experiencing several network outages between 2021 and 2024, it has seen substantial ecosystem growth in decentralized finance (DeFi), non-fungible tokens (NFTs), and real-world assets (RWA). As of early 2026, Solana is undergoing significant infrastructure upgrades like Firedancer and Alpenglow to enhance stability and scalability, aiming for broader institutional adoption, though its native token, SOL, has faced recent price volatility.
Dogecoin cryptocurrency
Dogecoin, initially launched in 2013 as a satirical cryptocurrency featuring the Shiba Inu 'Doge' meme, transcended its joke origins to become a prominent digital asset. Fueled by a vibrant online community and high-profile endorsements, particularly from Elon Musk, it experienced a meteoric rise in 2021. As of early 2026, Dogecoin continues to evolve, with ongoing efforts to enhance its utility for payments and increasing institutional interest, despite its inherent volatility and inflationary supply model.
Changpeng Zhao (CZ) and Binance Exchange
Changpeng Zhao, founder of the world's largest cryptocurrency exchange Binance, faced significant legal challenges in the U.S., pleading guilty to anti-money laundering violations in late 2023 and serving a four-month prison sentence in 2024. He received a presidential pardon in October 2025. Despite his legal troubles and stepping down as CEO, Binance continues to dominate the global crypto market under new leadership, though it faces ongoing scrutiny regarding its compliance with sanctions.
STEPN move-to-earn app
STEPN is a pioneering Web3 'move-to-earn' lifestyle application launched in late 2021, which incentivizes users to earn cryptocurrency by walking, jogging, or running with NFT sneakers. After a meteoric rise in early 2022, it faced significant challenges including a crypto market downturn and questions about its sustainability, leading to a substantial decline in user base and token values. The project continues to evolve with new iterations like STEPN GO, strategic partnerships, and adjustments to its tokenomics, aiming for long-term viability as of early 2026.
MicroStrategy Incorporated Stock (MSTR)
MicroStrategy (MSTR) has fundamentally transformed from an enterprise software company into a leading corporate holder of Bitcoin, with its stock performance largely mirroring the cryptocurrency's movements. The company, now sometimes branded as 'Strategy Inc.', aggressively acquires Bitcoin using proceeds from equity and debt offerings, aiming to reach 1 million BTC holdings by the end of 2026. This strategy has led to significant volatility in its stock, alongside substantial Bitcoin holdings and a complex financial structure.
Tether USDT
Tether USDT is the world's largest stablecoin, pegged to the US dollar, playing a crucial role in the cryptocurrency ecosystem by providing liquidity and a stable store of value. Despite a history marked by controversies surrounding the transparency of its reserves and regulatory scrutiny, Tether has maintained its market dominance and has recently expanded its operations into new sectors like artificial intelligence and commodity trading, while increasing its holdings in US Treasury bills. As of early 2026, it continues to navigate a complex global regulatory landscape, facing restrictions in some regions like Europe while gaining official approval in others.
Trump-themed Cryptocurrencies/NFTs
Trump-themed cryptocurrencies and NFTs, primarily the 'Trump Digital Trading Cards' and meme coins like MAGA (TRUMP), have experienced significant market volatility since their initial launches in late 2022 and early 2025, respectively. While initial sales for NFTs were strong, secondary market prices have largely declined. Concurrently, Donald Trump's administration, since his return to office in January 2025, has adopted a pro-crypto stance, influencing regulatory changes and launching new crypto ventures, including a stablecoin and a new token for Trump Media shareholders in 2026.
Gem (Crypto Platform)
Gem was a pioneering crypto infrastructure company founded in 2013, known for its unified API for blockchain data, crypto on-ramps, and portfolio management solutions. It was acquired by blockchain infrastructure provider Blockdaemon in March 2022 to strengthen Blockdaemon's institutional offerings. Post-acquisition, Gem's technology and team were integrated into Blockdaemon, where its solutions continue to support broader access to the crypto ecosystem.
Polymarket
Polymarket is a decentralized prediction market platform launched in 2020, allowing users to bet on real-world events using cryptocurrency. After facing a significant fine and temporary ban from U.S. operations by the CFTC in 2022, the company strategically re-entered the U.S. market in late 2025 through acquisitions and regulatory compliance, attracting substantial investments from major financial players like Intercontinental Exchange (ICE). As of early 2026, Polymarket has seen explosive growth in trading volume and users, while simultaneously navigating new state-level legal challenges and implementing stricter market integrity rules amid allegations of insider trading.
Bitcoin
Bitcoin, the pioneering decentralized digital currency, emerged in 2009, offering an alternative to traditional financial systems. Over its history, it has evolved from an obscure digital experiment to a trillion-dollar asset, experiencing significant price volatility, technological upgrades, and increasing institutional adoption, including the landmark approval of spot Bitcoin ETFs in the U.S. in 2024. As of April 2026, Bitcoin continues to navigate a complex global regulatory landscape and fluctuating market sentiment, maintaining its status as a leading cryptocurrency and a form of 'digital gold'.
Decentralized Finance (DeFi)
Decentralized Finance (DeFi) has evolved from an experimental concept into a sophisticated financial ecosystem leveraging blockchain technology and smart contracts to offer permissionless financial services. After a boom in 2020 and a significant downturn in 2022, DeFi has seen a robust recovery and maturation by 2026, characterized by increasing institutional adoption, the tokenization of real-world assets, and a focus on scalability, interoperability, and regulatory clarity.
Satoshi Nakamoto
Satoshi Nakamoto is the pseudonymous creator of Bitcoin, who authored its whitepaper in 2008 and launched the cryptocurrency in 2009. After contributing to its early development, Nakamoto mysteriously ceased public communication in 2011, leaving behind an estimated 1.1 million untouched Bitcoins. The true identity of Satoshi Nakamoto remains unknown, with recent investigations, including a New York Times report in April 2026, fueling new speculation around British cryptographer Adam Back.
Adam Back
Adam Back is a British cryptographer and cypherpunk, renowned for inventing Hashcash, a proof-of-work system that became foundational to Bitcoin. He is the co-founder and CEO of Blockstream, a leading Bitcoin infrastructure company, and also serves as CEO of Bitcoin Standard Treasury Company (BSTR), actively driving institutional adoption and the long-term security of Bitcoin.
Javier Milei's Crypto Ambitions
Javier Milei's presidency in Argentina, starting in late 2023, ignited significant crypto ambitions, driven by his libertarian ideology and the country's high inflation. While his administration legalized crypto in private contracts and introduced a VASP regulatory framework, these efforts have been overshadowed by the 2025 '$LIBRA' meme coin scandal, which led to significant investor losses and ongoing investigations into Milei's alleged involvement. Despite this, Argentina is moving to integrate crypto into its formal financial system, with banks expected to offer digital asset services by April 2026, even as Milei's broader dollarization plans have stalled.